CovenantNone

CovenantNone typically refers to a situation where there are no contractual restrictions or covenants attached to a financial agreement, such as a loan or bond. In other words, the borrower is not subject to specific conditions or performance requirements set by the lender. This flexibility can benefit the borrower but may also indicate higher risk for lenders, as there are fewer safeguards to ensure the borrower’s financial stability or compliance during the loan term. Essentially, CovenantNone means the agreement lacks particular covenants that usually help protect the lender’s interests.